Post-Purchase Monitoring and Compliance
Table of Contents
This article reviews HomeKeeper's Monitoring Event feature, which supports post-purchase monitoring stewardship efforts.
What is a Monitoring Event?
Monitoring Events represent your organization's post-purchase monitoring activities. Your program can use Monitoring Events to log program compliance information, improvement requests from homeowners, and delinquencies, etc.
Monitoring Events are located on the Related tabs of both the Service File and the Property Objects.
CAUTION: Monitoring Events are not intended to track every interaction with a homebuyer. Consider using Salesforce's Activity Features and Activity History to record phone calls and e-mails.
NOTE: For additional resources on tracking post-purchase stewardship efforts beyond monitoring and compliance, see our article, “Post-Purchase Stewardship Tools.”
Types of Monitoring Events
There are fourteen different types of Monitoring Events:
| Monitoring Event Type | Description |
|---|---|
| Occupancy Certification | Document certifying that the homeowner currently occupies the property as their primary residence. |
| Proof of Insurance | Occupant shows proof that they maintain a minimal level of insurance coverage that is outlined by the program. |
| Late Payment (to Program) | Log late payments from the homeowner to your program. |
| Notice of Foreclosure Proceedings | A formal warning that the homeowner is in the legal process to seize and sell a property due to unpaid mortgage payments. |
| 90+ Days Delinquent | The homeowner is 90 days delinquent on their mortgage or other home payments (such as property taxes or ground lease payments). |
| Enforcement Violation | A homeowner breaches the terms of agreement with the program or HOA. |
| Inspection | Property checks which help your program support homeowners and maintain compliance with program requirements. |
| Program Foreclosure Initiated | Lender has begun the legal process to reclaim a property due to missed mortgage payments |
| Request for Leave of Absence | Request by the homeowner to lease a home due to an extended period of time away (such as military duty, etc.). During the time away, the home will not be their primary residence. |
| Request for Short Sale Approval | Request by homeowners facing foreclosure to sell the property to a new buyer for less than the outstanding mortgage balance. |
| Request to Rent | Request by the homeowner to lease their home to a renter. This option is for owners who would not like to use the home as their primary residence. |
| Request to Refinance | Homeowners ask to refinance their mortgage. |
| Request for Improvement | Homeowner requests a capital improvement to the property. |
NOTE: You can edit the picklist options for the “Monitoring Event Type” field. For instructions, see “Editing Choices on Drop-Down Menus (Picklists)”.
Add a New Monitoring Event
Video Tutorial
Step-by-Step Instructions
1. From the Related tab of the Service File, navigate to Monitoring Events. Click new.
2. The Service File name and date will auto-populate.
3. Complete the “Information” section.
- Monitoring Event Type: Select the kind of Monitoring Event you would like to log.
- Status: Determine whether the Monitoring Event is active or resolved.
- Event Detail: Record any notes with key details for you and your team.
- Funding Source: If this monitoring event is related to a funding source (ex. primary mortgage), select it from the list.
- Property: You can link the Monitoring Event to a property in your portfolio.
- Amount Past Due: If applicable, record the amount that is past due.
- Delinquent: If applicable, log the length of time that the payment has been delinquent.
4. Save. Select “Save and New” if you would like to add another Monitoring Event for the same client.
Relate a Monitoring Event to a Property
In HomeKeeper, Monitoring Events are located on both the Service File and the Property. It is important for your program's data entry and management process to ensure you log your stewardship efforts in the correct place.
Most stewardship efforts should be logged at the household level using the Service File. Since the Service File is like a virtual manila folder, you want to make sure all post-purchase monitoring is accessible where you view all client information.
In some cases, you may want to include a Monitoring Event on a specific property's history. You can link a Monitoring Event on the Service File to a property in your portfolio. See the image below for an example.
The Monitoring Event regarding the home will also be listed in the Property's Related Lists.
Resolving a Monitoring Event
Video Tutorial
Step-by-Step Instructions
1. From the Related tab of the Service File, scroll down to find Monitoring Events. Select the Monitoring Event you would like to update and choose “Edit”.
2. Complete the “Resolution” section and update the Status. Then, save your updates.
View Key Dates on the Service File
Monitoring Events include an automation that populates the corresponding date fields on the Service File.
From the “Details” section on the Service File, you can view the most recent Occupancy Certification Date and the most recent Proof of Insurance. These are here to help you manage and monitor your post-purchase follow-up activity.
